Thursday, September 24, 2015

So, Should I go Deeply into Debt to Gamble on Gold and Silver?

The answer is "of course". Even though I'll have to pay absurd interest rates it looks like it's time to buy gold and silver options. I think I'll get GDX for gold miners and I might expand what I already have for the silver options.
I've got something like 4 pre-approved letters asking me to get loans at high interest rates. If I didn't think that gold and silver are beginning a major breakout I wouldn't bother.
Today, the stock market went down and the dollar went up. Either of those should have driven metals down; but they went up instead. That shows the strength of both metals. It's time to buy.
It will take some time for the money to show up on my E-Trade account so I'll probably miss a lot of the move. That just makes it more imperative to get the money "asap". I'll get spiffed up and go shopping for money tomorrow.
Fortunately I already have some silver options and a little "physical" gold and silver. Physical means the real stuff in my safe deposit box. I'm as ready as I can be.
On a different topic, I went prospecting this morning.
I found a place that I thought there was Limonite (a mineral containing gold). I was wrong. It didn't break up like Limonite would but I ran a sample pan of it anyway. I was disappointed to not find gold. Oh well; you have to try.
That's all I have for now.
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